Baobaoshu Group (01761) issued an announcementMostearningcryptogamesThe group is mainly engaged in providing mother-to-child community platform in China, dedicated to connecting and serving young families. From the suspension of trading in the company's shares to the date of this announcement, the GroupMostearningcryptogamesBusiness operations will continue as usual in all major areas and will continue to monitor the financial position and business operations. In addition, taking into account the recent macroeconomic environment, and to optimize the cost structure and improve operational efficiency, the Group has recently implemented a series of cost reduction measures, including, but not limited to, reducing staff costs and streamlining low-profit or non-profitable lines of business.

As disclosed in the company's announcement dated 15 April 2024, the independent investigator reports to the Commission on a number of preliminary findings on the allegations. Due to the large number of relevant information and documents to be reviewed, an independent investigation is still in progress as of the date of this announcement. The Committee will continue to work with independent investigators to complete the remaining investigations and independent internal control reviews with a view to issuing a formal report on the concluding findings as soon as possible. It is initially expected that the independent investigation will be completed by 31 May 2024 (adjustments may be made depending on the progress of follow-up work and the evidence of the investigation).

At the request of the Company, trading in the shares of the Company has been suspended on the Stock Exchange from 9: 00 a.m. on 2 May 2023 and will continue to be suspended until further notice.